Stocks see worst selloff in several months

The stock market closed with sharp losses on Monday, after a much weaker-than-expected reading on manufacturing data as well concerns over a slowdown in China triggered the worst selloff in several months. The S&P and Dow ended the day with the steepest decline since June 20. The Dow dropped 326 points, or 2.1% to 15,372.80, falling below its 200-day moving average. The drop is the seventh triple-digit decline this year.